MIGDAL HA’EMEK, Israel, June 10, 2020 (GLOBE NEWSWIRE) -- PV Nano Cell Ltd. (OTC: PVNNF), (the “Company”), an innovative provider of inkjet-based conductive digital printing solutions and producer of conductive digital inks, today announced that it has signed, under NDA, an agreement with a well-known, world-leading multinational healthcare company to develop a new inkjet printing technology for the fabrication of sensors using resistor and gold inks.
As part of the funded project, PV Nano Cell will develop two project-dedicated inks. The first ink is a high resistance ink – resistor ink and the second ink is a gold based ink. After the successful completion of the inks development, PV Nano Cell will develop the printing process technology to allow mass-production inkjet printing of the sensors. The resistor ink is based on PV Nano Cell prior work and knowledge, developing breakthrough materials and process technologies for embedded passive components.
PV Nano Cell’s Chief Executive Officer, Dr. Fernando de la Vega, commented, “We are honored to have been selected by this world-renowned multinational company for the project. The technology we are developing is expected to result in a dramatic drop in the current cost of fabricating the sensors. PV Nano Cell is working on further developing and expanding of its technology to print embedded passive components. We have already printed resistors and also capacitors using conductive and dielectric ink and believe this is a strategic development applicable to many markets and applications. As recently announced, sensor solutions provider HENSOLDT together with Printed Electronics (PE) provider, Nano Dimension Ltd., recently succeeded in assembling the world-wide first 10-layer inkjet printed circuit board (PCB). The board carries a high-performance electronic structures soldered to both outer sides. We believe such advancements prove the need and feasibility of embedded passive components.”
PV Nano Cell’s Chief of Business Development Officer, Mr. Hanan Markovich commented, “The technology we are now developing is expected to have a dramatic impact on the bottom-line cost of production of our partner’s sensors. The development is well on its way and we’re expecting to meet all milestones as planned. We look forward to finish the development of the two inks and start working on the printing process. During the project, our DemonJet printer will be used to print both the resistor and gold inks. We further plan to use our printer to print dielectric ink as well. Using our 10 channels print head, the DemonJet is capable of printing multiple materials and thus print embedded passive components.”
About PV Nano Cell
PV Nano Cell (PVN) offers the first-ever complete solution for mass-produced inkjet based, printed electronics. The proven solution includes PVN’s proprietary Sicrys™, silver-based conductive inks, inkjet production printers and the complete printing process. The process includes ink properties' optimization, printer’s parameters setup, printing modifications & tailored printing instructions per application. In the heart of PVN’s value proposition lies its unique and patented conductive silver and copper inks - Sicrys™. Those are the only inks made of Single Nano Crystals – which allows the inks to have the highest stability and throughput required to drive optimal mass-production results for wide range of applications. PVN’s solutions are used all over the world in a range of digital printing applications including: photovoltaics, printed circuit boards, flexible printed circuits, antennas, sensors, heaters, touchscreens and other. For more information, please visit http://www.pvnanocell.com/
This press release contains forward–looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward–looking statements." All information set forth in this news release, except historical and factual information, represents forward–looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward–looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company operates; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, and sign new agreements. For a more detailed description of the risks and uncertainties affecting PV Nano Cell, reference is made to the Company's latest Annual Report on Form 20-F which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by the Company in reports filed with, or furnished to, the SEC. Except as otherwise required by law, the Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Released June 10, 2020